Partners - Stock market, economic and political commentary by Patricia Chadwick

Posts Tagged ‘Oil’

The News is Bad but Not All Bad

Friday, October 24th, 2008

There really is some good news out there. First, the price of a barrel of oil has dropped from $147 to $63, (this morning) its lowest level since June 2007. In fact, the price of gasoline is now no higher now than it was just a year ago. This favorable trend will act like a tax cut to consumers, putting real money in their pockets. Moreover, consumers can face the upcoming winter with far less trepidation and can take comfort in the fact that as things stand now, their heating bills will likely be more like last year’s.